Medizone Shareholder Alert
It has been brought to our attention that it has become increasingly difficult to deposit certificates evidencing free trading registered shares of OTCBB traded companies into retail brokerage accounts with many of the larger, well recognized brokerage firms.
Medizone and other key industry professionals, within the legal and financial industry, are taking a pro-active stance on this issue with the SEC and FINRA. In that regard, we have representitives taking part in an upcoming SEC meeting in Washington D.C. to address the current situation.
In this current regulatory environment, the large firms will act as Market Makers in OTCBB securities, such as MZEI, and will typically allow buying and selling of these same securities by retail account holders, but are making it difficult if not impossible for shareholders to deposit certificates evidencing fully registered shares into their client accounts.
In our opinion this is an unfair, illogical situation that clearly harms both issuers and shareholders and needs to be corrected.
Until FINRA and/or the SEC takes corrective action, we feel obligated to assist our shareholders in finding an effective and efficient solution for managing their accounts without undo hassle. Therefore, as a first step, we recommend that you contact your brokerage firm to discuss their policies on accepting shares of MZEI for deposit before delivering certificates to them.
The brokerage firm that filed our Form 211 application, which allowed our shares to become quoted on the OTCBB, was Spartan Securities Group Ltd. Though it is not our policy to recommend any one brokerage firm and a decision to utilize any brokerage firm is entirely at the shareholder’s sole discretion, Spartan’s primary business is in dealing with micro-cap securities and has developed the necessary procedures to accept the deposit of OTCBB certificates, should your current broker not allow you to deposit these shares. Spartan’s CCO, David Lopez, informed us that he would be happy to discuss the mechanics of depositing and selling OTCBB securities with any of our shareholders who have questions, regardless as to whether you have an account with Spartan or not.
Spartan’s contact information is as follows:
Spartan Securities Group Ltd
By providing you with this information we do not intend to solicit or request the solicitation of any trading in the company's securities or in any other securities issued by another company. Furthermore, our reference to Spartan Securities Group Ltd. is intended solely as a resource to our shareholders as a place where they may obtain additional information concerning stock delivery in connection with retail trading. We strongly suggest that you also contact your securities professional and/or legal counsel in connection with these issues should you have any questions. Please do not contact the company for information and do not send your stock certificates or other securities to the company. If you are experiencing problems with a broker/dealer in connection with the sale or trading of securities on your behalf, you may also contact the Financial Industry Regulatory Authority (FINRA)'s Office of the Ombudsman toll free at (888) 700-0028 or by mail at FINRA Ombudsman, P.O. Box 9492, Gaithersburg, MD 20898-9492. Additional information is available on the FINRA website, www.finra.org.